COMPANY REGISTRATION NUMBER: 03650374 CHARITY REGISTRATION NUMBER: 1115119
Friends of the Cotswolds Company Limited by Guarantee Financial Statements
31 March 2023
McGILLS Chartered Accountants Oakley House Tetbury Road Cirencester Gloucestershire GL7 1US
Friends of the Cotswolds
Company Limited by Guarantee
Financial Statements
Year ended 31 March 2023
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 4 |
| Statement of financial activities (including income and | |
| expenditure account) | 6 |
| Statement of financial position | 7 |
| Notes to the financial statements | 9 |
| The following pages do not form part of the financial statements | |
| Detailed statement of financial activities | 18 |
| Notes to the detailed statement of financial activities | 19 |
Friends of the Cotswolds
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 March 2023
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2023.
Reference and administrative details
Registered charity name Friends of the Cotswolds Charity registration number 1115119 Company registration number 03650374 Principal office and registered 3 The Green office Northleach Cheltenham Gloucestershire GL54 3EX
The trustees
Mr H A Acland Mr P C Blacker Mrs L A Chandler-Mullins Mrs K Farquhar-Thomson Mr C Hancock Mrs K J Morgan Mr S J C Randall Dr D Rockey L C A J Tabor Mr A G Wade Mr M Hurrell (Appointed 13 January 2023) Independent examiner McGills Oakley House Tetbury Road Cirencester Gloucestershire GL7 1US
Structure, governance and management
The charity is controlled by its Memorandum and Articles of Association as a limited company, limited by guarantee, as defined by the Companies Act 2006. Trustees are recruited and appointed for their knowledge of the Cotswolds and their business and other skills. The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
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Friends of the Cotswolds
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2023
Objectives and activities
The purposes of the charity as set out in its governing documents include the following:
-
Promoting, enhancing, improving and protecting the physical and natural environment of the Cotswolds Area of Outstanding Natural Beauty (AONB) and adjoining and adjacent areas;
-
Advancing the education of the public to the AONB;
-
Providing within the AONB facilities in the interest of social welfare for recreation, sport and leisure time occupation;
-
Preserving buildings and/or sites within the area of historic or architectural merit; and
-
Such other charitable activities consistent with the above objects.
The main activities undertaken during the year to meet the purposes of the charity are:
-
Ownership and renovation of, and fund raising for, its freehold ownership of Grade II* listed Georgian prison at Northleach, Gloucestershire.
-
Promoting the Cotswolds, the nationally important collection of agricultural artefacts at the Old Prison, and interpreting this collection and the Old Prison itself, with new interpretation installed at the Old Prison including indoor and outdoor signage, video tours, audio interpretation and a trail for children.
The charity trustees are aware of the Charity Commission guidance on public benefit and confirm that they have complied with the duty under Section 17 of the Charities Act 2011. The Old Prison, its café and the collection is open to the general public throughout the year.
The trustees consider that the charity will continue as a going concern for a period of at least 12 months from the date on which these financial statements are approved, for the following reasons:
-
The charity holds reserves
-
The café is contributing both base and turnover rent to the charity and it is expected that this will
-
continue to grow.
The trustees, therefore, consider it appropriate to adopt the going concern basis of preparation of the accounts.
Achievements and performance
The trustees were delighted that the charity was successful in it's National Lottery Heritage Fund application to support a 2.5 year project at the Old Prison which begun in November 2022. In the past 12 months we have begun again to raise our profile with local supporters and continue to develop a programme of events through the now established fundraising committee.
- 2 -
Friends of the Cotswolds
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2023
Financial review
The finances of the charity are sound. The Old Prison was purchased by the charity from Consoled District Council in July 2013 with the benefit of a twenty year fixed rate repayment mortgage. The office premises at the building are let to the Copyholds Conservation Board at a rent which includes the original mortgage repayments.
The current lease of the offices finishes in mid July 2023. After refurbishment/repair of the offices and applicable structure (dilapidation costs of £47,500 was agreed by the current tenants- paid in May 23) the offices will be available to relet hopefully late 2023.
In August 2022 £440,000 was received which is the bulk of a legacy payment but no final accounts have been provided as yet and we are expecting a further small payment. We are currently taking legal advice as how we can best invest this money so it can be spent on the Copyholds in line with our charitable objectives. At present the money is being held in a deposit account so is earning some interest while the discussions continue.
At 31 March 2023, the charity had reserves of £806,954 of which £542,518 were restricted and £264,436 were unrestricted.
The majority of our expenditure on the Old Prison will be undertaken with the benefit of grants, and long and short term loans, obtained from either charitable, public or individual sources and the charity would only contemplate projects if it is certain funding is available as and when required. We are particularly grateful to the charities referred to in the accounts. The charity is keen to build up its reserves and increase its regular income as mentioned above. Most of the charity's income has been notionally reserved for specific expenditure, such as CCAS.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 1[st] December 2023 and signed on behalf of the board of trustees by:
Dr D Rockey Trustee
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Friends of the Cotswolds
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Friends of the Cotswolds
Year ended 31 March 2023
I report to the trustees on my examination of the financial statements of Friends of the Cotswolds ('the charity') for the year ended 31 March 2023.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or
-
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
- 4 -
Friends of the Cotswolds
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Friends of the Cotswolds (continued)
Year ended 31 March 2023
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
McGills Independent Examiner
Oakley House Tetbury Road Cirencester Gloucestershire GL7 1US
5[th] December 2023
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Friends of the Cotswolds
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 March 2023
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 5 | 10,885 | 573,906 | 584,792 | 25,255 |
| Charitable activities | 6 | 59,403 | – | 59,403 | 46,003 |
| Other income | 7 | 26,376 | – | 26,376 | 32,329 |
| ---------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total income | 96,664 | 573,906 | 670,571 | 103,587 | |
| ============================ | ================================ | ================================ | ================================ | ||
| Expenditure | |||||
| Expenditure on raising funds: | |||||
| Costs of other trading activities | 8 | 6,240 | 230 | 6,470 | 7,995 |
| Expenditure on charitable activities | 9 | 79,411 | 114,631 | 194,043 | 115,699 |
| ---------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total expenditure | 85,651 | 114,861 | 200,513 | 123,694 | |
| ============================ | ================================ | ================================ | ================================ | ||
| ---------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Net income/(expenditure) and net | |||||
| movement in funds | 11,013 | 459,045 | 470,058 | (20,107) | |
| ============================ | ================================ | ================================ | ================================ | ||
| Reconciliation of funds | |||||
| Total funds brought forward | 253,423 | 83,473 | 336,896 | 357,003 | |
| -------------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | ||
| Total funds carried forward | 264,436 | 542,518 | 806,954 | 336,896 | |
| ================================ | ================================ | ================================ | ================================ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 9 to 16 form part of these financial statements.
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Friends of the Cotswolds
Company Limited by Guarantee
Statement of Financial Position
31 March 2023
| 2023 | 2022 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| Fixed assets | ||||
| Heritage assets | 13 | 547,660 | 563,649 | |
| Current assets | ||||
| Debtors | 14 | 13,954 | 9,214 | |
| Cash at bank and in hand | 579,887 | 132,341 | ||
| -------------------------------- | -------------------------------- | |||
| 593,841 | 141,555 | |||
| Creditors: amounts falling due within one year | 15 | 35,977 | 41,021 | |
| -------------------------------- | -------------------------------- | |||
| Net current assets | 557,864 | 100,534 | ||
| ----------------------------------------- | -------------------------------- | |||
| Total assets less current liabilities | 1,105,524 | 664,183 | ||
| Creditors: amounts falling due after more than | ||||
| one year | 16 | 298,570 | 327,287 | |
| ----------------------------------------- | -------------------------------- | |||
| Net assets | 806,954 | 336,896 | ||
| ========================================= | ================================ | |||
| Funds of the charity | ||||
| Restricted funds | 542,518 | 83,473 | ||
| Unrestricted funds | 264,436 | 253,423 | ||
| -------------------------------- | -------------------------------- | |||
| Total charity funds | 17 | 806,954 | 336,896 | |
| ================================ | ================================ |
For the year ending 31 March 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
The statement of financial position continues on the following page. The notes on pages 9 to 16 form part of these financial statements.
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Friends of the Cotswolds
Company Limited by Guarantee
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the board of trustees and authorised for issue on 1[st] December 2023, and are signed on behalf of the board by:
Dr D Rockey Trustee
The notes on pages 9 to 16 form part of these financial statements.
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Friends of the Cotswolds
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in and a registered charity in England and Wales. The address of the registered office is 3 The Green, Northleach, Cheltenham, Gloucestershire, GL54 3EX.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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Friends of the Cotswolds
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Heritage assets
Heritage assets measured under the cost model are recognised initially recorded at acquisition cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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Friends of the Cotswolds
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
3. Accounting policies (continued)
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Limited by guarantee
The liability of the members is limited by guarantee.
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Friends of the Cotswolds
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
5. Donations and legacies
| Unrestricted | Restricted | Total Funds | |||
|---|---|---|---|---|---|
| Funds | Funds | 2023 | |||
| £ | £ | £ | |||
| Donations | |||||
| Other donations and gift aid | 10,720 | 573,906 | 584,627 | ||
| Membership subscriptions | 165 | – | 165 | ||
| ---------------------------- | -------------------------------- | -------------------------------- | |||
| 10,885 | 573,906 | 584,792 | |||
| ============================ | ================================ | ================================ | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2022 | |||
| £ | £ | £ | |||
| Donations | |||||
| Other donations and gift aid | 10,084 | 15,000 | 25,084 | ||
| Membership subscriptions | 171 | – | 171 | ||
| ---------------------------- | ---------------------------- | ---------------------------- | |||
| 10,255 | 15,000 | 25,255 | |||
| ============================ | ============================ | ============================ | |||
| 6. | Charitable activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Rental income | 27,697 | 27,697 | 27,697 | 27,697 | |
| Cafe income | 31,668 | 31,668 | 18,306 | 18,306 | |
| Sale of books and Christmas cards | 38 | 38 | – | – | |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | ||
| 59,403 | 59,403 | 46,003 | 46,003 | ||
| ============================ | ============================ | ============================ | ============================ | ||
| 7. | Other income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Insurance refund | 26,376 | 26,376 | 32,329 | 32,329 | |
| ============================ | ============================ | ============================ | ============================ | ||
| 8. | Costs of other trading activities | ||||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2023 | |||
| £ | £ | £ | |||
| Raising funds | 6,240 | 230 | 6,470 | ||
| ======================= | ============== | ======================= | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2022 | |||
| £ | £ | £ | |||
| Raising funds | 7,995 | – | 7,995 | ||
| ======================= | ============== | ======================= |
- 12 -
Friends of the Cotswolds
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
9. Expenditure on charitable activities by fund type
| Unrestricted | Restricted | Total Funds | ||
|---|---|---|---|---|
| Funds | Funds | 2023 | ||
| £ | £ | £ | ||
| Charitable activities | 66,454 | 113,071 | 179,525 | |
| Support costs | 12,957 | 1,560 | 14,518 | |
| ---------------------------- | -------------------------------- | -------------------------------- | ||
| 79,411 | 114,631 | 194,043 | ||
| ============================ | ================================ | ================================ | ||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2022 | ||
| £ | £ | £ | ||
| Charitable activities | 57,225 | 18,825 | 76,050 | |
| Support costs | 31,515 | 8,134 | 39,649 | |
| ---------------------------- | ---------------------------- | -------------------------------- | ||
| 88,740 | 26,959 | 115,699 | ||
| ============================ | ============================ | ================================ | ||
| 10. | Net income/(expenditure) | |||
| Net income/(expenditure) is stated after charging/(crediting): | ||||
| 2023 | 2022 | |||
| £ | £ | |||
| Depreciation of heritage assets | 15,989 | 15,989 | ||
| ============================ | ============================ | |||
| 11. | Independent examination fees | |||
| 2023 | 2022 | |||
| £ | £ | |||
| Fees payable to the independent examiner for: | ||||
| Independent examination of the financial statements | 650 | 450 | ||
| ============== | ============== |
12. Trustee remuneration and expenses
The key management personnel of the charity consists of the trustees. One trustee received remuneration of £23,708.95 (2022: £12,600) during the year for administration, fundraising and project management work for the charity.
13. Heritage assets
Heritage assets consist of the Old Prison building in Northleach, Gloucestershire. The Old Prison is a grade II* listed building of cultural and historic value to the local area.
The charity's policy for heritage assets is in line with the guidance issued by Historic England.
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Friends of the Cotswolds
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
13. Heritage assets (continued)
| Old Prison | ||
|---|---|---|
| £ | ||
| Cost or valuation | ||
| At 1 April 2022 and 31 March 2023 | 649,726 | |
| ================================ | ||
| Accumulated depreciation | ||
| At 1 April 2022 | (86,077) | |
| Charge for the year | (15,989) | |
| -------------------------------- | ||
| At 31 March 2023 | (102,066) | |
| ================================ | ||
| Carrying amount | ||
| At 31 March 2023 | 547,660 | |
| ================================ | ||
| At 31 March 2022 | 563,649 | |
| ================================ | ||
| Heritage assets are reported at cost. | ||
| Debtors | ||
| 2023 | 2022 | |
| £ | £ | |
| Trade debtors | 12,154 | 7,395 |
| Prepayments and accrued income | 1,800 | 1,819 |
| ---------------------------- | ----------------------- | |
| 13,954 | 9,214 | |
| ============================ | ======================= | |
| Creditors: amounts falling due within one year | ||
| 2023 | 2022 | |
| £ | £ | |
| Bank loans and overdrafts | 27,000 | 27,000 |
| Trade creditors | 4,113 | 8,638 |
| Accruals and deferred income | 4,075 | 4,441 |
| Social security and other taxes | 789 | 942 |
| ---------------------------- | ---------------------------- | |
| 35,977 | 41,021 | |
| ============================ | ============================ | |
| Creditors: amounts falling due after more than one year | ||
| 2023 | 2022 | |
| £ | £ | |
| Bank loans and overdrafts | 298,570 | 327,287 |
| ================================ | ================================ |
14. Debtors
15. Creditors: amounts falling due within one year
16. Creditors: amounts falling due after more than one year
- 14 -
Friends of the Cotswolds
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
17. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||
|---|---|---|---|---|
| At | ||||
| At | 31 March 20 | |||
| 1 April 2022 | Income | Expenditure | 23 | |
| £ | £ | £ | £ | |
| General funds | 251,293 | 96,664 | (85,651) | 262,306 |
| Leyhill prison | 2,130 | – | – | 2,130 |
| -------------------------------- | ---------------------------- | ---------------------------- | -------------------------------- | |
| 253,423 | 96,664 | (85,651) | 264,436 |
|
| ================================ | ============================ | ============================ | ================================ | |
| At | ||||
| At | 31 March 20 | |||
| 1 April 2021 | Income | Expenditure | 22 | |
| £ | £ | £ | £ | |
| General funds | 259,441 | 88,587 | (96,735) | 251,293 |
| Leyhill prison | 2,130 | – | – | 2,130 |
| -------------------------------- | ---------------------------- | ---------------------------- | -------------------------------- | |
| 261,571 | 88,587 | (96,735) | 253,423 |
|
| ================================ | ============================ | ============================ | ================================ | |
| Restricted funds | ||||
| At | ||||
| At | 31 March 20 | |||
| 1 April 2022 | Income | Expenditure | 23 | |
| £ | £ | £ | £ | |
| CRF funded project at the Old Prison | 3,415 | – | (1,560) | 1,855 |
| Cotswold craft apprenticeship scheme | 78,453 | – | (230) | 78,223 |
| Leyhill prison | 1,263 | – | – | 1,263 |
| Shepherd's hut | 342 | – | – | 342 |
| Rooted in the community | – | 133,906 | (113,071) | 20,835 |
| Legacy | – | 440,000 | – | 440,000 |
| ---------------------------- | -------------------------------- | -------------------------------- | -------------------------------- | |
| 83,473 | 573,906 | (114,861) | 542,518 |
|
| ============================ | ================================ | ================================ | ================================ | |
| At | ||||
| At | 31 March 20 | |||
| 1 April 2021 | Income | Expenditure | 22 | |
| £ | £ | £ | £ | |
| CRF funded project at the Old Prison | 1,549 | 10,000 | (8,134) | 3,415 |
| Cotswold craft apprenticeship scheme | 92,278 | 5,000 | (18,825) | 78,453 |
| Leyhill prison | 1,263 | – | – | 1,263 |
| Shepherd's hut | 342 | – | – | 342 |
| Rooted in the community | – | – | – | – |
| Legacy | – | – | – | – |
| ---------------------------- | ---------------------------- | ---------------------------- | ---------------------------- | |
| 95,432 | 15,000 | (26,959) | 83,473 |
|
| ============================ | ============================ | ============================ | ============================ |
- 15 -
Friends of the Cotswolds
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
18. Analysis of net assets between funds
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Tangible fixed assets | 547,661 | – | 547,661 |
| Current assets | 91,323 | 502,518 | 593,841 |
| Creditors less than 1 year | (35,978) | – | (35,978) |
| Creditors greater than 1 year | (298,570) | – | (298,570) |
| -------------------------------- | -------------------------------- | -------------------------------- | |
| Net assets | 304,436 | 502,518 | 806,954 |
| ================================ | ================================ | ================================ | |
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Tangible fixed assets | 563,649 | – | 563,649 |
| Heritage assets | – | – | – |
| Current assets | 58,082 | 83,473 | 141,555 |
| Creditors less than 1 year | (41,021) | – | (41,021) |
| Creditors greater than 1 year | (327,287) | – | (327,287) |
| -------------------------------- | ---------------------------- | -------------------------------- | |
| Net assets | 253,423 | 83,473 | 336,896 |
| ================================ | ============================ | ================================ |
- 16 -
Friends of the Cotswolds
Company Limited by Guarantee
Management Information
Year ended 31 March 2023
The following pages do not form part of the financial statements.
- 17 -
Friends of the Cotswolds
Company Limited by Guarantee
Detailed Statement of Financial Activities
Year ended 31 March 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| Other donations and gift aid | 584,627 | 25,084 |
| Membership subscriptions | 165 | 171 |
| -------------------------------- | ---------------------------- | |
| 584,792 | 25,255 | |
| -------------------------------- | ---------------------------- | |
| Charitable activities | ||
| Rental income | 27,697 | 27,697 |
| Cafe income | 31,668 | 18,306 |
| Sale of books and Christmas cards | 38 | – |
| ---------------------------- | ---------------------------- | |
| 59,403 | 46,003 | |
| ---------------------------- | ---------------------------- | |
| Other income | ||
| Insurance refund | 26,376 | 32,329 |
| ---------------------------- | ---------------------------- | |
| -------------------------------- | -------------------------------- | |
| Total income | 670,571 | 103,587 |
| ================================ | ================================ | |
| Expenditure | ||
| Costs of other trading activities | ||
| Legal and professional fees | 6,470 | 6,530 |
| Other office costs | – | 1,465 |
| -------------------------------- | -------------------------------- | |
| 6,470 | 7,995 | |
| -------------------------------- | -------------------------------- | |
| Expenditure on charitable activities | ||
| Rooted in the Community costs | 113,071 | – |
| Repairs and maintenance | 20,607 | 38,510 |
| Insurance | 3,476 | 396 |
| Other establishment | 19,721 | 9,571 |
| Other office costs | 11,042 | 21,178 |
| Interest on bank loans and overdrafts | 10,942 | 11,230 |
| Other interest payable and similar charges | (805) | – |
| Grants paid | 15,989 | 34,814 |
| -------------------------------- | -------------------------------- | |
| 194,043 | 115,699 | |
| -------------------------------- | -------------------------------- | |
| -------------------------------- | -------------------------------- | |
| Total expenditure | 200,513 | 123,694 |
| ================================ | ================================ | |
| -------------------------------- | -------------------------------- | |
| Net income/(expenditure) | 470,058 | (20,107) |
| ================================ | ================================ |
- 18 -
Friends of the Cotswolds
Company Limited by Guarantee
Notes to the Detailed Statement of Financial Activities
Year ended 31 March 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Costs of other trading activities | ||
| Raising funds | ||
| Consultancy | 6,470 | 6,530 |
| General expenses | – | 1,465 |
| ----------------------- | ----------------------- | |
| 6,470 | 7,995 | |
| ----------------------- | ----------------------- | |
| ----------------------- | ----------------------- | |
| Costs of other trading activities | 6,470 | 7,995 |
| ======================= | ======================= | |
| Expenditure on charitable activities | ||
| Charitable activities | ||
| Activities undertaken directly | ||
| Rooted in the Community costs | 113,071 | – |
| Old Prison maintenance | 20,607 | 38,510 |
| Old Prison venue costs | 19,721 | 9,571 |
| General expenses | – | 750 |
| Mortgage interest | 10,942 | 11,230 |
| Interest received | (805) | – |
| Depreciation on heritage assets | 15,989 | 15,989 |
| -------------------------------- | ---------------------------- | |
| 179,525 | 76,050 | |
| -------------------------------- | ---------------------------- | |
| Governance costs | ||
| Insurance | 3,476 | 396 |
| General expenses | 11,042 | 20,428 |
| Grants paid | – | 18,825 |
| ---------------------------- | ---------------------------- | |
| 14,518 | 39,649 | |
| ---------------------------- | ---------------------------- | |
| -------------------------------- | -------------------------------- | |
| Expenditure on charitable activities | 194,043 | 115,699 |
| ================================ | ================================ |
- 19 -